BMO3332-Effect Of Innovation On Leadership In Organizations : Essay Fountain

Discuss how innovation in the fourth industrial revolution is impacting organisations and businesses in the two of your chosen areas and explain why and what may be the solution(s).  What changes are organisations facing and dealing with this new era.
  1. Leadership
  2. Skills
  3. Technology
  4. Customer & Market 
 

Answer

Introduction

The fourth industrial revolution has been able to improve the operations of modern organizations and the societies as well. The revolution has been able to change the ways of our living, communicating and working. Various aspects of the environment are thereby affected by the industrial revolution (Zhou, Liu and Zhou 2015). Different departments which are thereby affected by industrial revolution in the current environment thereby include, healthcare, education, government and commerce. Relationships that have been developed between the government and organizations which operate in the environment have also changed after the industrial revolution has taken place. This revolution is further expected to affect the business and environment and societies in the future as well (Zhou, Liu and Zhou 2015).

The analysis in the essay will be mainly based on the ways by which the organizations in modern business environment are affected by the changes which have taken after industrial revolution. The ways by which innovation is able to affect the operations of different organizations all over the world. The industrial revolution and its effects on two major factors related to major organizations which include, leadership and customer and market. The ways by which different modern organizations are affected and they need to react to the external environment will be an important part of the analysis that will be done in the essay. 

 

Effect of innovation on leadership in organizations

The arrival of fourth industrial revolution has been able to affect the environment and organizations in the vast manner. The transformation from the agrarian to the urban societies is an important factor based on the fourth industrial revolution. The development of mechanical and digital technologies is a major factor which has been able to affect the business environment. The fourth industrial revolution has thereby been characterised in an effective manner by the proper implementation of innovative technologies. The ways by which people in the society are able to communicate with each other has also been affected by the fourth industrial revolution (Amabile and Pratt 2016).

According to, Bloem et al. (2014), the functionality of urban areas has also gone through huge amounts pf changes after the advent of industrial revolution. The proper combination of technology and innovation is an important factor of the fourth industrial revolution that has been able to affect the leadership based processes in organizations. The modern organizations have been affected by the ways by which living standards of people have changed and their demands have changed as well. The organizations and their leadership will be affected after the implementation of fourth industrial revolution as it will mainly involve the convergence of major factors which include, artificial intelligence, augmented reality and machine learning.

The fourth industrial revolution will thereby increase the usage of technologies in different operational areas. The need for excessive employees will be reduced in the future due to the usage of modern techniques. The technologies which are being introduced after the industrial revolution will be able to decrease the need for labour in different departments of the company. The speed of different organizational processes has also been increased with the help of proper use of technologies. The leadership based activities of the company are thereby affected by implementation of fourth industrial revolution in an effective manner (Anderson, Poto?nik and Zhou 2014). The leaders of the modern organizations thereby need to take into consideration the different issues which are being faced by the employees to adjust in the environment. The employees need to be guided in such a manner which will play a major role in their work process. The ways by which they react to the changes will be an important part of the operations of the company. The leaders will be play a major role in the ways by which the company and the employees are able to operate in the changing environment. The levels of coordination between the employees and leaders will be an important part of the operations. 

 

Effect of innovation on the market and customers

As argued by, Bahrin et al. (2016), innovation is mainly based on the development, creation and the implementation of new products, processes within the organization. Customer satisfaction is on the other hand is based on the ways by which the company is able to fulfil the needs and demands of customers with the help of its services and products in an effective manner. The repurchasing based intentions of the customers are thereby increased with the help of their satisfaction based on products and services that are offered by the organizations. The business strategies thereby need to be developed by the companies in such a manner which help in increasing their shares in the market.

The levels of innovation in all sectors are able to increase the satisfaction levels of customers in an effective manner. Usage of innovation has increased in the modern organizations due to the ways by which the customers are attracted towards its products. The companies are thereby able to attract customers with the help of the levels of innovation that are implemented in different processes in an effective manner. The fourth industrial revolution has been able to increase the levels of innovation in different sectors (Baporikar 2015).

The increased levels of innovation will be an important part of the improvement of customer base and the products and services as well. Fourth revolution has also played an important role in the ways by which innovation can affect the industries and societies. The customers and all other individuals have also been affected by revolution that has taken place due to the implementation of fourth industrial revolution (Yao and Lin 2016). The needs and demands of the customers in the industry have been affected and their living standards have increased as well. This has thereby created immense pressure on the organizations to improve the operations in an effective manner (Cropley and Cropley 2015). This has thereby been able to improve the services, products and the ways by which these companies are able to operate in the industry in an effective manner.

Innovation has been able to affect the demands, needs and living standards of the individuals who are a part of the society. The levels of loyalty towards the brand is also an important part of the operations of different companies in the industry. The most important part of the ways by which innovation has been able to affect the organizations is based on the usage of artificial intelligence based activities of the companies. The lives of people have been revolutionized with the help of effective technologies within the environment. The executives and managers thereby need to understand that the business operations of the companies cannot be conducted in the ways by which they were done previously. The companies thereby need to improve the operations in an effective manner so that the customers can be satisfied as well (DaSilva 2018).

The fourth industrial revolution has thereby played an important role in the ways by which the loyalty based levels of the customers can be affected. The implementation of the advanced technologies like artificial intelligence has been able to play a major role in the operating processes of different companies. The computers have become much faster as compared to the ways by which they were able to help the companies in the past. The levels of digital transformation have been able to play an important role in the ways by which the companies operate in different areas (Erol, Schumacher and Sihn 2016).

The ways by which companies operated before the implementation of fourth industrial revolution, need to be changed due to the increase of innovation based activities. The levels of intelligence transformation also play an important part in the successful operations of companies which are a part of the environment. The governments are also affected by the changes that have taken place due to fourth industrial revolution. The markets have also become much more dynamic in nature with the help of the high levels of innovation in the environment. The strategic planning based activities of the companies thereby need to play a major role after the revolution had taken place in the environment (Funk 2014). 

 

The business strategies also need to be developed in an effective manner so that they can be effectively aligned with organizational operations. The companies need to provide high levels of attention to the ways by which industrial revolution has affected the operations. The customer levels of the company have also changed due to the revolution and innovation based activities in different areas (Qin, Liu and Grosvenor 2016). The usage of artificial intelligence has also increased due to the industrial revolution which has been able to affect the revenues and profitability of the modern organizations. The planning based processes of the company are also affected by the increase in innovation in the environment (Hameed and Counsell 2014).

Innovation has been able to play an important role in the proper operations of different organizations in different industries. The trust levels of people have been affected by the relationship with the government and the international organizations as well. The major issue that can be faced by the organizations in this case is based on the ways by which they try to operate in the environment in an effective manner. The combination of different technologies has been able to play an important role in the operations of the modern organizations in the newly developed environment. The industrial revolution has thereby been able to affect the operations of different companies and the societies at large (Jarle Gressgård et al. 2014).

 The revolution based changes thereby need to communicated and implemented in an effective manner with the help of proper training as well as education that can be provided to the employees. The new market based conditions can thereby play an important role in the proper operations of the companies. The employees can also be trained based on the ways by which operations can be conducted in an effective manner (Lu 2017). The organizations thereby need to make huge levels of investments on the ways by which the employees can be trained in order to adjust with the external environmental changes. The regulations that have been formed by the government are thereby affected by different changes that have taken place in the environment due to the revolution (Magdalena 2016). 

 

Conclusion

The essay can be concluded by stating that the industrial revolution has played a major role in changing the ways by which the companies are able to operate in different industries. The leadership based activities of the organizations have been affected in a huge manner by the changes that have taken place in the external environment. The companies thereby need to bring changes in the operating based processes. The employees also need to be provided with the appropriate levels of training so that they are able to adjust themselves with the new environment that has been created in the environment. The most important part of the effects is thereby based on the operating processes and innovation based levels of the companies. The leadership related activities have been affected by the increased levels of innovation and usage of new technologies as well. The fourth industrial revolution has thereby proved to be a process which has affected all the major aspects of the companies in a huge manner. The revolution has been able to bring some effective changes in the operating processes of different modern organizations. 

 

References

Amabile, T. M., and Pratt, M. G., 2016. The dynamic componential model of creativity and innovation in organizations: Making progress, making meaning. Research in Organizational Behavior, 36, 157-183.

Anderson, N., Poto?nik, K., and Zhou, J., 2014. Innovation and creativity in organizations: A state-of-the-science review, prospective commentary, and guiding framework. Journal of management, 40(5), 1297-1333.

Bahrin, M.A.K., Othman, M.F., Azli, N.N. and Talib, M.F., 2016. Industry 4.0: A review on industrial automation and robotic. Jurnal Teknologi, 78(6-13), pp.137-143.

Baporikar, N., 2015. Drivers of Innovation. In Knowledge Management for Competitive Advantage During Economic Crisis (pp. 250-270). IGI Global.

Bloem, J., Van Doorn, M., Duivestein, S., Excoffier, D., Maas, R. and Van Ommeren, E., 2014. The Fourth Industrial Revolution. Things Tighten.

Cropley, D. H., and Cropley, A. J., 2015. The psychology of innovation in organizations. Cambridge University Press.

DaSilva, C. M., 2018, July. Business Model Innovation In Dynamic Environments: A Process Model For Entrepreneurship. In Academy of Management Proceedings(Vol. 2018, No. 1, p. 12032). Briarcliff Manor, NY 10510: Academy of Management.

Erol, S., Schumacher, A. and Sihn, W., 2016. Strategic guidance towards Industry 4.0–a three-stage process model. In International conference on competitive manufacturing(Vol. 9, pp. 495-501).

Funk, R. J., 2014. Making the most of where you are: Geography, networks, and innovation in organizations. Academy of Management Journal, 57(1), 193-222.

Hameed, M. A., and Counsell, S., 2014. User acceptance determinants of information technology innovation in organizations. International Journal of Innovation and Technology Management, 11(05), 1450033.

Jarle Gressgård, L., Amundsen, O., Merethe Aasen, T., and Hansen, K., 2014. Use of information and communication technology to support employee-driven innovation in organizations: a knowledge management perspective. Journal of Knowledge Management, 18(4), 633-650.

Lu, Y., 2017. Industry 4.0: A survey on technologies, applications and open research issues. Journal of Industrial Information Integration, 6, pp.1-10.

Magdalena, G.A.B.R.I.E.L., 2016. Industry 4.0 and sustainability impacts: Critical discussion of sustainability aspects with a special focus on future of work and ecological consequences.

Qin, J., Liu, Y. and Grosvenor, R., 2016. A categorical framework of manufacturing for industry 4.0 and beyond. Procedia Cirp, 52, pp.173-178.

Yao, X. and Lin, Y., 2016. Emerging manufacturing paradigm shifts for the incoming industrial revolution. The International Journal of Advanced Manufacturing Technology, 85(5-8), pp.1665-1676.

Zhou, K., Liu, T. and Zhou, L., 2015, August. Industry 4.0: Towards future industrial opportunities and challenges. In Fuzzy Systems and Knowledge Discovery (FSKD), 2015 12th International Conference on (pp. 2147-2152). IEEE.

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